BOC to raise interest rate for new third suite stop loan

BOC increases "in-house" interest rate new Third suite stop-loan notice not to Jinan reporter Ma Min this newspaper, Jinan, April 23, the official website of the Bank of China, announced that the interest rate adjustment expires, the stock mortgage rate will be raised, three suites interest rate will be on the basis of benchmark interest rate of 20%. After the tightening of the mortgage policy, BOC became the first bank to raise interest rates on mortgage loans.　　Yesterday, the reporter learned from the Bank of China Jinan branch, Jinan branch has not received adjustment notice. The first set of loans was raised to 85 percent in early February, with BoC taking the lead in cancelling 70 percent mortgages, followed by major banks. At this point the policy is aimed at new loans.　　April 23, BoC again took the lead to adjust the mortgage, adjust the target to expand to the stock of mortgage.　　The Bank of China said in a notice, according to the contract with the customer, in the interest rate adjustment when the maturity of the first set, two sets, three sets and above, the floating rate of mortgage rates adjusted to the benchmark rate of 0.85 times times, 1.1 times times and 1.2 times times respectively. This means that, when the interest rate adjustment expires, regardless of the customer's initial loan to get a few discount mortgages, if the determination of two suites, three suites, the interest rate will float.　　Based on the current benchmark interest rate, the adjustment of the first and second suites and three suites and above lending rates are 5.049%, 6.534%, 7.128% respectively.　　Second Suite standard for "credit" for new housing loans, BOC will strictly implement the policy of differentiation.　　The announcement said that the residents to buy the first set of building area of 90 square meters from housing and security housing, continue to enjoy 85 percent interest rate concessions to meet basic housing needs.　　For families who buy the first set of houses with a set building area of 90 square meters, the loan down payment is not less than 30%; for families that have used loans to buy homes and apply for loans to buy a second home, the down payment is not less than 50%, and the interest rate is no less than 1.1 times times the benchmark Strict restrictions on the various names of speculation and speculative housing, in principle, suspend the issuance of the third set of residential loans.　　To suspend the granting of housing loans to non-local residents who cannot provide proof of local tax or social insurance contributions for more than 1 years. It is noteworthy that in the Bank of China announcement, the second suite of standards for the "has been used to buy housing loans, but also to apply for loans to buy a second housing family."　　With the recent CBRC hair of the "recognition of the House does not recognize the loan" is not the same. The end of this year, the bank has become the main banks to adjust the home loan vane, from the first cancellation of 70 percent interest rate, to take the lead in adjusting the interest rate of mortgage, release the adjustment signal. Reporters from ICBC, ABC, CCB and other banks to understand that there is no current headquarters to adjust the stock of mortgage notice. "Since the cancellation of the 70 percent interest rate on the new home loan, how the old mortgage has been adjusted has been a suspense," the bank's announcement revealed an adjustment signal that other banks may follow later. "A lender in charge of a state-owned bank told reporters that if the old mortgage rate is adjusted, the pressure will increase for those who still have a house in hand., the interest rate policy urges the tenant to sell in advance, buys the home mortgage customer to choose the early repayment will increase.　　For two suites, if the loan of 1 million yuan, the same amount of equal principal and interest in the 20-year period to pay off, the rate of 85 percent, monthly return of 6627.21 yuan, and if the implementation of the benchmark rate of 1.1 times times, monthly repayment of 7473.4 yuan, a full monthly repayment of more than 800 yuan. Generally speaking, the interest rate of the mortgage is adjusted for January 1 of each year, that is, next January 1, 2011, the preferential interest rate that the customer initially enjoys will be cancelled and the interest rate raised. Industry analysis, the possibility of interest rate increases this year, if the rate hike, adjusted interest rate will be higher, the end may be piled up early repayment peak.